Under the scheme, a member can contribute both for retirement and a medical plan, and on attaining retirement age the fund for retirement will be converted to a monthly pension.
The medical fund will fully cater for medical on retirement.
The scheme will also allow members to port their benefits from any plan they have to their retirement on the same terms as before.
Non-banking financial services consultancy Liaison Group has introduced a scheme that allows clients to enjoy medical cover in retirement.
Under the scheme, a member can contribute both for retirement and a medical plan, and on attaining retirement age the fund for retirement will be converted to a monthly pension.
The medical fund will fully cater for medical on retirement.
The scheme will also allow members to port their benefits from any plan they have to their retirement on the same terms as before.
Managing director Tom Mulwa, yesterday said the scheme dubbed Suluhu Umbrella Scheme ensures one is not just guaranteed a stable income in retirement, but also has a reliable medical cover.
“We have designed the scheme with inbuilt flexibility to allow members to port their current plans into retirement at the same terms,” said Mr Mulwa. He said they have put in place a highly competent panel of service providers to ensure a high quality of service.
“The fact that the service providers are not related is also critical for good governance,” said Mr Mulwa.
The service providers are Liaison Financial Services as scheme administrator and founder, KCB Bank as corporate trustee, NIC Bank as custodian, and Stanlib Kenya as investment manager.
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